Residential Real Estate

Luxury complex under construction in downtown Fayetteville

By Savanah Ramsey, posted 4 months ago

A new residential development is headed to downtown Fayetteville off of Adams Street. 

The development represents a $5 million investment and brings 20 new units to the downtown area. In phase one of the project, there will be 12 units ready to be opened in May 2022. 

Bringing these apartments to Adam Street is a staple in making the area a more safe and clean area that people want to come to and live in. 

"Adding 40K+ gross square feet of new residential construction to our city's urban core will have a substantial impact on retailers' bottom line and downtown's walkability sense of place,” stated Bianca Shoneman, president and CEO of Cool Spring Downtown District. “The investment is the first of its kind being constructed by a local, Black-owned development company, RAJJ Investment Properties, Inc., and adding 60+ new residents is a win/win for our community and surrounding property values.”

The project is headed up by Jerome Njuan Bell of RAJJ Investment Properties, Inc.

“I want to play a role in the community and with my tenants to create an atmosphere where people can interact with one another, while supporting local businesses downtown,” said Bell.

As a high-end luxury complex, each apartment will have three bedrooms and two baths. Additionally, there is a lot next to the development that Bell hopes to turn into a recreational space for tenants.

“I’ve been here since 2003, and this change is to show that we are a city of heroes and hometown,” added Bell. “We need to bury the bad image of Fayetteville and play a part to become something more as a community.”

The groundbreaking ceremony for the apartments was held in July last year. “July 23, 2021, was by far one of the most special and amazing days of my life to date,” Bell told Greater Fayetteville Business Journal last year. “My father and family … all showed up to help me celebrate a major accomplishment -- building my first apartment complex. With their continued love and support, I will be building many more.”

Ico insights

INSIGHTS

SPONSORS' CONTENT

In The Current Issue

Economic concerns affect spending: Consumer spending patterns show more caution toward everyday spending

Sharon McCutcheon/UnsplashIn recent months, areas across the country have witnessed spikes and drops in the economy. For some this works in their favor, however, the biggest trend across the board is people being more cautious with their money. 


Moving up the ranks: North Carolina holds coveted spots on two ranked lists on business environment

Giorgia Trovato/UnsplashNorth Carolina’s business community has been the talk of the town across the nation as it has been recognized as an ideal place to work.  Last year, Business Facilities released an annual ranking that placed North Ca


Military veterans get to work: The Heroes MAKE America program & FTCC help transition military members into the civilian workforce

Photo by Heroes Make AmericaEvery year, men and women prepare to leave their life of military service and transition to civilian life – 200,000 in fact, according to the U.S. Department of Labor. For those service men and women, finding work in